Bank of New York Mellon Corp lifted its position in shares of Brookline Bancorp, Inc. (NASDAQ:BRKL) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,655,813 shares of the bank’s stock after purchasing an additional 12,299 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.16% of Brookline Bancorp worth $25,997,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of BRKL. Nationwide Fund Advisors lifted its position in shares of Brookline Bancorp by 6.4% during the 3rd quarter. Nationwide Fund Advisors now owns 124,141 shares of the bank’s stock worth $1,924,000 after buying an additional 7,451 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Brookline Bancorp during the 3rd quarter worth approximately $252,000. Prudential Financial Inc. lifted its position in shares of Brookline Bancorp by 34.3% during the 3rd quarter. Prudential Financial Inc. now owns 360,183 shares of the bank’s stock worth $5,583,000 after buying an additional 92,060 shares during the period. Principal Financial Group Inc. lifted its position in shares of Brookline Bancorp by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 615,505 shares of the bank’s stock worth $9,540,000 after buying an additional 7,186 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Brookline Bancorp by 86.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 44,448 shares of the bank’s stock worth $689,000 after buying an additional 20,548 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.
BRKL has been the subject of several analyst reports. BidaskClub downgraded Brookline Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Piper Jaffray Companies reiterated a “hold” rating and issued a $16.50 price objective on shares of Brookline Bancorp in a research report on Tuesday, January 9th. Finally, ValuEngine upgraded Brookline Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.33.
In other Brookline Bancorp news, COO James M. Cosman sold 12,500 shares of Brookline Bancorp stock in a transaction on Monday, February 5th. The stock was sold at an average price of $16.76, for a total value of $209,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Hackett sold 5,000 shares of Brookline Bancorp stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $16.25, for a total value of $81,250.00. Following the completion of the transaction, the director now owns 31,500 shares of the company’s stock, valued at approximately $511,875. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,500 shares of company stock valued at $784,850. Corporate insiders own 2.85% of the company’s stock.
Brookline Bancorp stock opened at $17.05 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.16 and a quick ratio of 1.16. Brookline Bancorp, Inc. has a 52-week low of $13.60 and a 52-week high of $17.20. The stock has a market capitalization of $1,309.90, a price-to-earnings ratio of 25.07 and a beta of 0.91.
Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, January 31st. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Brookline Bancorp had a return on equity of 7.58% and a net margin of 17.11%. The firm had revenue of $63.47 million during the quarter, compared to the consensus estimate of $61.22 million. During the same quarter in the previous year, the company posted $0.19 EPS. equities research analysts expect that Brookline Bancorp, Inc. will post 1.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were given a $0.09 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.36 annualized dividend and a yield of 2.11%. Brookline Bancorp’s payout ratio is 52.94%.
Brookline Bancorp Profile
Brookline Bancorp, Inc operates as the holding company for Brookline Bank, Bank Rhode Island, First Ipswich Bank, and Brookline Securities Corp that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include non-interest-bearing demand checking accounts, NOW accounts, savings accounts, and money market accounts.
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